For Sale
$1,476,533

965 Miami StWest Milton, OH 45383

Ohio Convenience Store, 7.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 10,640-square-foot Dollar General store situated on a 2.2-acre lot at 965 S Miami St, West Milton, OH 45383. The property boasts a strong 7.5% cap rate, generating a net operating income (NOI) of $110,740. The absolute NNN lease, with a corporate guarantee from Dollar General, provides significant security. The lease commenced July 28, 2017, and has a remaining term of 7.5 years, with three 5-year renewal options, each including a 10% rent increase. The tenant is responsible for all property maintenance, insurance, and property taxes. The asking price is $1,476,533, translating to a price per square foot of $138.77. The property is currently 100% occupied. A $640,000 loan at 4.9% interest with a 15-year amortization schedule, maturing in March 2034, is assumable. This investment offers a compelling combination of strong tenant credit, a long-term lease, and a desirable cap rate in a stable market. The property's location benefits from a $83,268 average household income within a five-mile radius. Dollar General's S&P BBB- credit rating further enhances the investment's security.

Highlights

  • 7.5-year remaining lease term.
  • Corporate guarantee on the lease.
  • Absolute triple-net (NNN) lease.
  • Strong demographics: $83,268 average household income within a five-mile radius; 2.2-acre lot with 10,640 square-foot building.
  • S&P BBB- credit rating.
  • Limited market competition.

Property Details for 965 Miami St

Property type
Retail properties, Grocery and convenience stores
Square Feet
10,640 SF
Lot Size (sq. ft)
95,832 SF

Location Insight

City
West Milton
County
Miami
State
Ohio
Latitude
39.949183843631
Longitude
-84.322492404148
965 Miami St, West Milton, Ohio

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965 Miami St
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